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Judgment Search Results Home > Cases Phrase: income tax act Year: 1948 Page 1 of about 162 results (0.106 seconds)

Dec 09 1948 (PC)

Commissioner of Income-tax and Excess Profits Tax Vs. S. Sen and ors.

Court : Orissa

Decided on : Dec-09-1948

Reported in : AIR1952Ori89

..... the entire contract work had been completed during that year. it is well-settled in law that the words 'accrue and arise' used in section 4 of the income-tax act -- the section that defines income in the previous year (accounting year) -- are of the same import except that the use of one or the other may be more appropriate in the facts of ..... connexion, he draws a parallel between the words just quoted from section 115, civil procedure code, and the words defining the powers of the appellate tribunal in section 33(4) of the income-tax act, which provides: 'the appellate tribunal may pass such orders thereon as it thinks fit.' this contention, however, is fallacious. the limitations that have gathered round the high court's power ..... .j. 1. the proceeding arises out of two applications, consolidated, because of the facts being identical, by the commissioner of income-tax, excess profits tax, bihar and orissa, under section 66 (1) of the income-tax act read with section 21 of the excess profits tax act for stating a case and opinion of this court on the following (three) questions of law: (1) whether in the ..... 703/-. besides, it appears, there were certain estimated outstanding bills to the credit of the assessee which had been excluded from assessment. 3. the income-tax officer issued notices under sections 22 (4) and 23 (2) of the income-tax act. in pursuance of these notices, s. sen informed him that the books of account were with his partner, j. bhuyan. when the latter was .....

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Dec 06 1948 (PC)

Banshidhar Onkarmal Vs. Commissioner of Income-tax

Court : Orissa

Decided on : Dec-06-1948

Reported in : AIR1952Ori109

..... -section (1) of section 10 or under clause (xv) of sub-section (2) of that section. there is no express provision in the indian income-tax act authorising such deduction but mr. monanti has relied on some decisions in which sucn losses have been allowed on general principles of computation of profits.5. mr ..... or expended wholly and exclusively for the purposes of the business within the meaning of section 10(2) (xv) of the income-tax act.11. the assessee should pay costs to the commissioner of income-tax. hearing fee is fixed at rs. 100/-.ray, c.j.12. i entirely agree. in course of the argument it ..... is to distinguish it on facts. besides, what has been laid down as principle of law in the case of 'mulchand hiralal v. commr. of income-tax', has been so done as an obiter dictum. his lordship courtney-terrell c. j., before dealing with question of law observed 'in my opinion the decision ..... exactly what he likes'. 7. mr. mohanti has placed some reliance on the dissentient judgment of anantakrishna ayyar j. in 'ramaswami chettiar v. commr. of income-tax', air (17) 1930 mad 808. but the facts of that case are clearly distinguishable. there the sole business of the assessee was money-lending and the ..... office hours, prior to the crediting of the sum to the account of the employer. this case is somewhat similar to a lahore case reported in 'assessment of income-tax v. l.n. gadodia & co.', air (22) 1935 lah 53.6. the aforesaid view is supported by the following observations of rowlatt j. in ' .....

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Dec 06 1948 (PC)

Kilburn Properties, Ltd. Vs. Commr. of Income-tax

Court : Kolkata

Decided on : Dec-06-1948

Reported in : AIR1952Cal333

..... -a & set aside the orders of the income-tax officer for both years.9. appeals were taken by the income-tax officer to the income-tax appellate tribunal who reversed the orders of the appellate assistant commissioner & restored the orders of the income-tax officer.10. on application filed by the assessee under section 66, income-tax act the tribunal referred the following question for toe ..... assessee was derived from 'property' assessable under section 9, income-tax act, the provisions of section 28-a were ..... opinion of this court.'whether in view of the fact that the entire income of the ..... at an applicable to the case?'11. the relevant portion of section 23-a reads as follows:'where the income-tax officer is satisfied that in respect of any previous .....

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Aug 05 1948 (PC)

Commissioner of Income-tax Vs. Kamala Mills Ltd.

Court : Kolkata

Decided on : Aug-05-1948

Reported in : AIR1952Cal383

..... cost to the assessee less all depreciation 'actually' allowed to him under this act, or any act repealed thereby, or under executive orders issued when the indian income-tax act, 1886, was in force.6. mr. pal, appearing for the income-tax authorities, contends that the expression 'actually allowed' means 'allowable under the law in force.' mr. pal refers as to ..... figure, the assessee for the latter.5. it is no longer disputed that the present controversy should be determines on the terms of section 10 (5) (b) as amended by income-tax (amendment) act xxiii (23) of 1941 which is to the following effect.10 (5) 'written down value' means:(b) in the case of assets acquired before the previous year the actual ..... the provisions of section 10 (2) (vi) provisos (b) & (c) of act xi (11) of 1922 and also to the corresponding provisions of ..... order1. this is a reference under section 66 (1) income-tax act, at the instance of the commissioner of income-tax, bengal.2. the question relates to the allowable depreciation for the charge-year 1942-43.3. in the preceding charge-year, (1941-42), the allowable depreciation was found to be .....

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Mar 12 1948 (PC)

Harakchand Makanji and Co. Vs. the Commissioner of Income-tax

Court : Mumbai

Decided on : Mar-12-1948

Reported in : AIR1948Bom401; (1948)50BOMLR315

..... l.r. 168 that question came up before beaumont c.j. and kania j., and kania j. with respect rightly observed that the scheme of the income-tax act was that the assessment for each year was self-contained and therefore all notices should be served under section 43 in respect of each assessment year. beaumont ..... event was essential under section 34 of the act. now that section deals with assessment escaping and sir jamshedji says that inasmuch as no assessment took place at all in the assessment year, viz. before march 31, 1943, assessment had escaped, and if the income-tax authorities wanted to assess the agent at all ..... any assessee. therefore once a public notice is given under sub-section (1), the assessment proceedings have commenced and there is no obligation upon the income-tax to serve an assessee individually as well. the law does not lay down that if the return is not made within the prescribed time it ..... the department. in this case the return was made on june 18, 1943, without any individual notice having been served upon the applicants by the income-tax officer under section 22(2). the return having been made, no possible question can arise under section 34 of assessment escaping, and i fail to ..... see why it was necessary upon the income-tax authorities to serve any notice under section 34 at all. notice under section 34 is only necessary if at the end of the assessment year .....

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Mar 22 1948 (PC)

Madanlal Dharnidharka Vs. the Commissioner of Income-tax

Court : Mumbai

Decided on : Mar-22-1948

Reported in : AIR1949Bom24; (1948)50BOMLR335

..... it. to this preliminary objection there is to my mind a very short answer for the purposes of this reference. the scheme of section 66 of the income-tax act is that under sub-section (1) either the assessee or the commissioner may apply to the tribunal to refer to the high court any question of law ..... then the court would have no jurisdiction to call upon the tribunal to refer that question of law to the high court, it is true that the income-tax act is a very technical statute, but i see no reason why when the plain grammatical construction of the section does not make it necessary to come to ..... in the years preceding the maru year 1999-2000 as a non-resident could be included under section 4(1)(b)(iii) of the indian income-tax act in his total income of the year of account in which he was a resident in british india. it will be noticed that the point sought to be taken ..... it was out of this large fortune that this amount was brought into british india. the appellate assistant commissioner taxed this amount of rs. 2,01,000 under section 4(1)(b)(iii) of the indian income-tax act. it was found by him that after the death of his adoptive uncle the assessee did business at indore ..... of any year subsequent to the year when these sub-clauses were inserted in the income-tax act by the amendment of 1939. income which accrues or arises to a resident in british india during any year is a part of his total income under section 4(1)(b)(ii). it could not have been intended that this particular .....

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Mar 15 1948 (PC)

Dwarkadas Bhimji Vs. the Commissioner of Income-tax

Court : Mumbai

Decided on : Mar-15-1948

Reported in : (1948)50BOMLR346

..... for uncertainty, the trustees hold these properties by reason of a resulting trust in favour of the settlors. the scheme of the income-tax act is that it is always open to the income-tax authorities to assess a beneficiary direct. it is only under section 41 in the cases enumerated in that section that it is ..... object, it is clear that the trust is not a good and valid charitable trust. in view of this the income-tax department sought to assess the income of this trust as the income of the settlors and sir jamshedji's contention before us is that although the trust deeds may be bad as charitable ..... ground of uncertainty.4. sir jamshedji has relied on a decision of this court reported in arur v. commissioner of income-tax : (1945)47bomlr786 . in that case two questions were raised, whether the income of a certain trust was held under trust or other legal obligation wholly for charitable purposes within the meaning of section ..... british india in such year by or on behalf of such person. therefore, whether the income is received direct by the assessee or is received on his behalf, he is liable to be taxed under section 4 of the act, and, in my opinion, there can be no doubt that if there is a resulting ..... trust in favour of the settlor, the income which the trustee receives is an income received on behalf of his beneficiary, viz. the settlor. .....

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Mar 17 1948 (PC)

Ahmedbhai Umarbhai and Co. Vs. Excess Profits Tax Officer, Iii Circle

Court : Mumbai

Decided on : Mar-17-1948

Reported in : (1948)50BOMLR349

..... from gwalior and the moment subsequent to that export.26. now, so far as the actual case was concerned, since the case fell within section 4(1) of the indian income tax act, undoubtedly all these profits were taxable in india and, therefore, i do not read this case as any authority for the proposition that no portion of the profits of this ..... had tea estates in an indian state; but the tea was brought into british india and sold in british india. the calcutta high court, in a reference under the income-tax act, held that the income accrued or arose in calcutta and not in the indian state. in coming to this conclusion panckridge j. who delivered the judgment states (p. 125):in the present ..... of sales of goods manufactured in raichur and sold in british india. the assessee is a firm resident in british india and it is registered with the income-tax authorities under section 26a of the indian income-tax act. the assessee has three mills in bombay and one in raichur in hyderabad (dn.) state. they purchased groundnuts and then converted them into oil in their ..... two positions. it is true that the excess profits tax act taxes business, but that means that the only source it taxes is the profits or gains of a business, whereas the income-tax act taxes all sources of income of an assessee. but even so even under the excess profits tax act it is the assessee who is taxed in respect of his income in a business. the advocate general has relied .....

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Mar 16 1948 (PC)

The Commissioner of Income-tax Vs. Laxmidas Mulraj Khatau

Court : Mumbai

Decided on : Mar-16-1948

Reported in : (1948)50BOMLR360

..... of in any manner they liked. the very dividend warrant which contains a declaration to be made by the shareholder under the rules framed under the income-tax act clearly shows what the position is, because what the shareholder has to declare is 'i hereby certify that the dividend abovenamed relates to shares which ..... 1942, and the dividend was made payable on and after november 2, 1942, and it was paid on the same day. the income-tax officer treated both these dividends as the dividend income of the assessees for the assessment year 1943-44 as both the dates, viz. november 8, 1941, and november 2, 1942, ..... declared on october 18, 1941; and sir jamshedji has contended that on the declaration of the dividend the shareholder became a creditor of the company and income accrued and arose to him although the payment thereof was deferred till november 3, 1941. on the other hand the advocate general's contention is ..... have demanded the payment of the dividend from the company and therefore it was only on november 3, 1941, that the dividend became the income of the assessees. we think that sir jamshedji's contention is sound because as soon as the dividend was declared on october 18, 1941, the dividend ..... . the advocate general has relied on section 16(2) which provides that for the purposes of inclusion in the total income of an assessee any dividend shall be deemed to be income of the previous year in which it is paid, credited or distributed or deemed to have been paid, credited or distributed .....

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Mar 23 1948 (PC)

Tejaji Farasram Kharawalla Vs. Commissioner of Income-tax

Court : Mumbai

Decided on : Mar-23-1948

Reported in : (1948)50BOMLR362

..... reference is what is the correct interpretation to be placed on section 4(3)(vi) of the indian income-tax act. sub-section (3) of that section provides that certain heads of income shall be excluded from the total income of an assessee. one of such heads is in sub-clause (vi) which is in these terms:any ..... 5 per cent commission received by him from the ciba (india), ltd., can be allowed under section 4(3)(vi) of the indian income-tax act, without proof by him that the whole commission received by him was spent by him in the performance of his duties as representative of the ..... falls within the meaning of this sub-clause to expend it wholly on some other object of his own. if the contention advanced on behalf of the income-tax commissioner was correct, it would require our reading into this sub-clause at the end of the clause some words to the following effect : 'to the ..... expenses wholly and necessarily incurred in the performance of the duties of an office or employment of profit.5. it is contended on behalf of the income-tax commissioner that where you have a special allowance granted to meet expenses as set out in this sub-clause, only such portion of that allowance should ..... that that amount had actually been spent for that particular purpose, viz. the purpose of paying secret commission to dyeing masters and others. this order of the income-tax officer was passed on february 17, 1941. on april 28, 1941, the assessee executed five deeds of agreement in favour of five of his salesmen. .....

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